# Economic reform proposals in Peru and Argentina

> Live situation record from CLSTR: https://clstr.news/situations/economic-reform-proposals-in-peru-and-argentina
> Updated: 2026-09-08T20:59:01.000Z. Sources: 8. Developments: 2.

Economic leaders and officials in Peru and Argentina have proposed various monetary and regulatory reforms. In Peru, Julio Velarde, president of the Central Reserve Bank, advocated for removing interest rate caps, arguing that such limits might cause banks to deny credit to certain users. 

Following these discussions, Peru’s Minister of Economy and Finance, Élmer Cuba, also critiqued interest rate caps, suggesting that current usury laws may drive borrowers toward unregulated “gota a gota” informal loans, particularly affecting micro-enterprises and high-risk consumers. 

In Argentina, former Economy Minister Domingo Cavallo proposed supporting President Javier Milei’s administration by lifting currency controls, accumulating central bank reserves, and declaring the US dollar legal tender to encourage economic reactivation.

## Timeline

### 2026-09-08: Peru Economy Minister critiques interest rate caps and stalled public works

Peru's Economy Minister Élmer Cuba warned that interest rate caps drive borrowers toward informal credit and announced a census to prioritize finishing stalled public works projects.

3 sources. https://clstr.news/cluster/peru-economy-minister-critiques-interest-rate-caps-and-stalled-public-works

### 2026-09-06: Economic leaders propose interest rate and currency reforms in Peru and Argentina

Economic leaders in Peru and Argentina propose significant reforms: Julio Velarde advocates removing interest rate caps in Peru, while Domingo Cavallo suggests lifting currency controls in Argentina.

5 sources. https://clstr.news/cluster/economic-leaders-propose-interest-rate-and-currency-reforms-in-peru-and-argentina

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Cite as: Economic reform proposals in Peru and Argentina. CLSTR, https://clstr.news/situations/economic-reform-proposals-in-peru-and-argentina